Harvey Aftermath: Dramatic Affect on Building Trades Is Expected

Even after the waters recede and the ground dries, problems with insurance and labor shortages will hinder the recovery.

As the people of the Houston area begin the tremendous task of rebuilding after a category 4 hurricane, recovery experts are starting to look at the implications for the building trades industry. The job of cleaning up and rebuilding is going to be a huge one, and Wall Street has already taken notice of the economic impact. In a CNBC report, Home improvement shares jump after Hurricane Harvey deluge, Thomas Franck reports:

Investors had been expecting U.S. home improvement shares to gain because of Hurricane Harvey, which has lead to catastrophic flooding in the Houston and Galveston areas. Homeowners face damaged property and the likelihood of rebuilding efforts, driving up demand for home improvement equipment and materials as well as for temporary electricity generators as the deluge gradually ends.

Regardless of the labor situation, savvy builders — especially those with ongoing projects — need to know the ins and outs of the insurance issues encountered after a flood. Check out these two articles, one from the Fine Homebuilding archives, and a new article from FHB sister site GreenBuildingAdvisor.com:

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Oh poor contractors might have to pay high wages to attract young US citizens off their game consoles and out to work. Pay well and provide a decent work environment. I know, it's been too much to ask but perhaps it's time.

Hurricane Harvey has caused a lot of damage and now a lot of reconstruction is being done. Rebuilding construction has become a big issue, and along with it the insurance claim has drastically increased. While making the home storm proof we should also look for home insurance, there are certain special storm and flood insurance that give the maximum coverage of loss. There are experts from Direct Insurance Network (https://directinsurancenetwork.com) who can guide in a better way to get the insurance. Mostly it covers the reconstruction costs, building repair and damages.